Remortgaging SVR mortgage holders look for more competitive rates.

Lenders SVR increases are providing a remortgaging catalyst which is spurring mortgage holders on to switching to a better deal.

Media coverage surrounding the Halifax and other lenders SVR increases has been extensive. The news has also caused ripples throughout the mortgage industry and concern among 100s of thousands of mortgage holders.

However research by Unbiased.co.uk has shown that around half of UK mortgage holders are unaware as to what their mortgage rate actually is and haven't reviewed their mortgage arrangements for over three years.

For all home-owners a regular mortgage review is an important factor in ensuring that you have the best rate possible for your circumstance. With news of SVR increases, now is the time to look at your deal and consider remortgaging. While ignorance may be bliss, it can also be costly.

With the base rate having remained unchanged for three years, mortgage customers haven't seen much need to keep up to date on rates or consider a remortgage. There has been a great deal of customer inertia in relation to remortgaging but that must change if monthly mortgage costs are to be reduced.

Increased demand for remortgage deals may also bring out competition between lenders, wanting to attract those of you hit by lenders recent mortgage rate increases.

Competition is good, as it may well lead to a cut in lenders remortgage rates.

Deal Direct can help with all of your remortgaging requirements. We are 'whole of market' brokers who will search the entire UK remortgage market on your behalf for a competitive deal to reduce your monthly mortgage repayments.